Thai Stock Market Roundup on July 15, 2020
A short summary to inform investors of what had happened in the Thai stock market on July 15, 2020.
– SET Index closed at 1,354.31 points, increased 13.24 points or 0.99% with a trading value of 59.6 billion baht. The analyst stated that the Thai stock market moved in the same direction as the regional market in response to the positive sentiment over Moderna’s coronavirus vaccine which has positive results on patients.
However, the tension between the U.S. and China could put some weight on the sentiment as neither showed signs of compromising.
The analyst suggested investors to monitor the resolution of the OPEC’s meeting, which would be announced later today whether the group would prolong the production cut or start to pump up. The decision could affect oil prices in tomorrow’s session.
In addition, the analyst expected a support level for SET Index in tomorrow’s session at 1,340 points and a resistance level at 1,370 points.
– Local Institutions and Proprietary Trading made a return to the Thai stock market with a total net buy of 2.5 billion baht to buoy SET Index by 13 points.
– UK “leveled itself down,” said Huawei after being banned from the Kingdom.
– Oil rose as US inventories fell 8.3 million barrels, reflecting higher demand in the market.
– SKY acquired a 46.8% stake of SAL with 212 million baht to expand business in the aviation industry.
– Analyst expected DTAC to pay an interim dividend of ฿0.75, recommending “BUY” with a target price at ฿50.00/share.
– BAY, BBL and KBANK lowered their credit card interest rate to 16% to support debtors during the pandemic.
– PTTGC to proceed with the selection for a partner to replace “Daelim” without difficulties.
– SAMTEL signed a contract of supplying IP telephony with the Ministry of Interior worth ฿628mn.
– RATCH partnered with “Geleximco” to invest in power and infrastructure projects in Vietnam.
– STGT dropped 4.46% after a series of speculations, while the analyst remained positive on high gloves demand during the pandemic.
– Stocks in Focus on July 15, 2020: SISB (KGI Securities TP at ฿11.30/share) and SC (DBS Vickers Securities TP at ฿2.49/share).
Top 10 Most Impact Shares on July 15, 2020
